Sippican Capital Advisors Reduces Holdings in ConocoPhillips $COP

Sippican Capital Advisors lowered its holdings in shares of ConocoPhillips (NYSE:COP) by 3.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,179 shares of the energy producer’s stock after selling 150 shares during the period. Sippican Capital Advisors’ holdings in ConocoPhillips were worth $375,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Tritonpoint Wealth LLC boosted its stake in ConocoPhillips by 1.3% during the 2nd quarter. Tritonpoint Wealth LLC now owns 8,329 shares of the energy producer’s stock worth $747,000 after purchasing an additional 110 shares during the period. Iowa State Bank boosted its stake in ConocoPhillips by 0.5% during the 2nd quarter. Iowa State Bank now owns 22,193 shares of the energy producer’s stock worth $1,992,000 after purchasing an additional 110 shares during the period. First National Bank Sioux Falls boosted its stake in ConocoPhillips by 4.6% during the 2nd quarter. First National Bank Sioux Falls now owns 2,572 shares of the energy producer’s stock worth $231,000 after purchasing an additional 113 shares during the period. KLCM Advisors Inc. boosted its stake in ConocoPhillips by 2.6% during the 1st quarter. KLCM Advisors Inc. now owns 4,503 shares of the energy producer’s stock worth $473,000 after purchasing an additional 115 shares during the period. Finally, Fairvoy Private Wealth LLC boosted its stake in ConocoPhillips by 3.5% during the 2nd quarter. Fairvoy Private Wealth LLC now owns 3,500 shares of the energy producer’s stock worth $314,000 after purchasing an additional 117 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Down 4.5%

Shares of NYSE COP opened at $87.83 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $115.38. The firm has a 50-day moving average price of $94.60 and a 200 day moving average price of $92.52. The stock has a market capitalization of $109.70 billion, a price-to-earnings ratio of 11.79, a price-to-earnings-growth ratio of 2.33 and a beta of 0.62.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.36 by $0.06. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The firm had revenue of $14.94 billion during the quarter, compared to analysts’ expectations of $14.39 billion. During the same quarter last year, the business earned $1.98 earnings per share. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. Equities research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.6%. The ex-dividend date was Monday, August 18th. ConocoPhillips’s dividend payout ratio (DPR) is 41.88%.

Analysts Set New Price Targets

Several analysts have recently commented on COP shares. BMO Capital Markets raised their target price on shares of ConocoPhillips from $113.00 to $115.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. UBS Group raised their target price on shares of ConocoPhillips from $116.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. Susquehanna reduced their target price on shares of ConocoPhillips from $114.00 to $113.00 and set a “positive” rating for the company in a research note on Wednesday, July 23rd. Morgan Stanley restated an “overweight” rating and issued a $123.00 target price (up previously from $119.00) on shares of ConocoPhillips in a research note on Sunday, August 10th. Finally, Royal Bank Of Canada reduced their target price on shares of ConocoPhillips from $115.00 to $113.00 and set an “outperform” rating for the company in a research note on Friday, July 11th. Sixteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and a consensus target price of $117.23.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.